March 29, 2010

 

US beef strikes upbeat note as 2010 begins
 

 

The export beef market in the US has started 2010 on an upbeat note, with volumes during January surging 19% from last year, reaching 69,661 tonnes cwt.

 

The increase has largely been the result of a recovery in exports to Canada and Japan.

 

While Mexico's economy is starting to show signs of improvement, US beef to Mexico in January fell 7% on-year and was 16% below January 2008. The peso has depreciated slightly against the US dollar, although Mexico's purchasing power is still well below 2008. US live cattle exports to Mexico during January jumped significantly on last year – up from 319 head to 3,943 head.

 

Shipments to Canada, the US's second largest market, rose 28% on last year, to 7,600 tonnes cwt, as the economy improves.

 

US beef consignments to Japan continued to gather pace in 2009, with the US Meat Export Federation (USMEF) ramping up efforts to increase market share in North Asian markets. US shipments to Japan remained strong in January, rising 28% on last year, to 7,600 tonnes cwt. Expanding market access in Japan remains a top priority for the USMEF, as US beef imports is currently restricted to only beef from cattle 20 months of age or younger.

 

Shipments to Korea during January were 4% lower on last year. US exports to this market have slowed since October last year.

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